Invesco Ltd. Buys 15,098 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Invesco Ltd. grew its holdings in LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,168 shares of the financial services provider's stock after buying an additional 15,098 shares during the period. Invesco Ltd. owned 0.28% of LGI Homes worth $5,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in shares of LGI Homes by 112.9% during the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider's stock worth $31,000 after acquiring an additional 184 shares during the period. KBC Group NV increased its position in LGI Homes by 51.6% during the 4th quarter. KBC Group NV now owns 1,110 shares of the financial services provider's stock worth $99,000 after buying an additional 378 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of LGI Homes during the third quarter worth $334,000. EntryPoint Capital LLC boosted its position in shares of LGI Homes by 66.2% in the fourth quarter. EntryPoint Capital LLC now owns 3,049 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 1,215 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of LGI Homes by 5.7% in the third quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider's stock valued at $460,000 after acquiring an additional 211 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Michael Larry Snider sold 1,105 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $75.94, for a total value of $83,913.70. Following the transaction, the chief operating officer now owns 27,102 shares in the company, valued at $2,058,125.88. The trade was a 3.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on LGIH. Seaport Res Ptn raised shares of LGI Homes from a "strong sell" rating to a "hold" rating in a report on Monday, January 27th. Wedbush reissued a "neutral" rating and set a $115.00 price target (down previously from $125.00) on shares of LGI Homes in a research report on Tuesday, January 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price objective on shares of LGI Homes in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on LGI Homes from $82.00 to $80.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and an average target price of $111.67.

LGI Homes Trading Up 0.8 %

Shares of NASDAQ LGIH traded up $0.45 during midday trading on Thursday, reaching $55.06. The stock had a trading volume of 42,654 shares, compared to its average volume of 292,610. LGI Homes, Inc. has a twelve month low of $52.48 and a twelve month high of $125.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.54 and a current ratio of 12.72. The company's 50 day moving average price is $65.91 and its 200 day moving average price is $86.34. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 6.60 and a beta of 1.99.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.29). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $351.42 million during the quarter, compared to the consensus estimate of $380.07 million. During the same period last year, the firm posted $0.72 earnings per share. The company's revenue for the quarter was down 10.1% on a year-over-year basis. As a group, sell-side analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.